Confidence in the Prairies takes index to near-record

Consumer confidence is at a near-record high as optimism in the Prairies surged last week.

The weekly Canadian Confidence Index from Bloomberg and Nanos Research hit 62.17 for the week ending December 29, the highest level in 8 years.

“After being in the doldrums in terms of consumer sentiment, Canadians sentiment in the energy rich Prairie provinces has shown a noticeable rise,” said Nanos Research Group Chairman Nik Nanos. “The Prairie provinces hit a level not seen since 2014.”

The two sub-indexes on personal finances and job security, and the outlook for the economy and real estate prices, were both higher than the previous week.

More than 43% of respondents believe that real estate prices will be higher by the summer with a similar share expecting them to stay the same. Just 11% think prices will be lower in 6 months.

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